A budget is an essential component of the financial planning process in both the public and private sectors. In the public sector, the budget impacts nearly every citizen and serves as the foundation of a government’s fiscal policy. It is also a vital document for planning future development expenditures. Given the magnitude of public sector spending, all appointed budget analysts must possess the necessary skills to address upcoming challenges.

Budget analysts at all levels of government are tasked with effectively distributing resources among various departments and development programs. They also measure performance, analyze financial results, and assist in drafting budget-related legislation.

Upon completion of the training program at the British Academy For Training And Development, trainees must pass an exam to receive their certificate.

Who Should Attend?

Budgeting and planning personnel
• Revenue Department personnel
• Chief Executives
• Financial Controllers
• Departmental managers
• Internal Auditors
• Data analysts
• Risk Officers

Knowlegde and Benefit:

Determine how a government entity or a company would generate funds and how they would be spent

Collaborate with different divisions and departments to develop the budget of the organization
• Scrutinise budget proposals of the departments to ensure they are complete, accurate and in compliance with local laws, regulations and policies
• Clearly distinguish between revenue and capital items and budget accordingly
• Monitor organizational expenditures, identify areas where the company is overspending and make appropriate recommendations
• Approve within-budget expenditure and forecast future cash requirements
• Compare actual results to budgeted figures at the end of each reporting period, and report on significant variances

Introduction to budgeting and the financial statements
o Planning and budgeting concepts
o Budget methodologies
o Risk, uncertainties and assumptions
o Sensitivity Analysis
• Different approaches to preparing budgets
o Preparation of Master Budget
o Fixed v/s Flexible Budgets
o Quarterly Reviews
o Forward Planning
o Budget/ Actual Comparison
o Zero-based Budgets
• Budget Preparation

Accounting Conventions
o Accounting Policies
o Revenue Recognition
o Cash v/s Accrual Accounting
o International Accounting Standards (IAS)
o International Public Sector Accounting Standards (IPSAS)
o WorldCom / Enron Scandals
• Financial Modelling
o Components of Financial Reports
o Balance Sheet
o Profit & Loss Statement
o Statement of Cash Flow
o Statement of Changes in Equity
o Accompanying Notes to the Accounts
• Controlling and analysing budgets
o Market trends and analysis
o Ratio Analysis
o Vertical Balance Sheet & P&L Statement
o Horizontal Balance Sheet & P&L Statement
o Variance Analysis
o Price Variance
o Quantity Variance
o Mix Variance
• Cost Accounting
o Total Absorption Costing
o Marginal Costing
o Contribution Margin

Break-even Analysis
o Sensitivity Analysis
• Sources of Finance
o Equity and Debt Financing
o Gearing ratios
o Cost of Capital
o Weighted Average Cost of Capital
o Decisions regarding Dividend Payments
• Working Capital Control
o Inventory Control
o Accounts Receivable
o Accounts Payable
o Reconciliation of Sub-ledgers
o Other Current Assets & Current Liabilities
o Tax and Deferred Taxation
• Public Sector Development / Capex
o Capital Investment Appraisal
o Return on Investment
o Payback period
o Net present Value
o Internal Rate of Return
o Public/ Private Partnership projects
• Enterprise Resource Planning (ERP)
o Sales
o Bill of material

Material Management
o Procurement
o Production
o Integration with General Ledger